Home Search

Rockford Real Estate-Buying a home steps

If you are looking to purchase Rockford homes, there are steps you need to take before making an appointment to view properties. Research areas you are interested in and find out what homes have sold for. That will help you determine if this is going to be a good investment for you. It helps to find out the approximate value of a home in Rockford before heading out to view the properties in person.

Here are some additional steps to help you prepare to purchase homes in Rockford.

Hire a Professional

The first step is to select a professional to help you find your dream home and fine-tune your financial expectations. Working with a buyer agent is worth consideration since he or she is legally responsible for representing the buyer's interest in a real estate transaction. Before making a decision, however, have a Realtor explain the pros and cons of using a buyer agent versus a sales or dual agent. Your Rockford Real Estate Agent, Barb Erdmier, can guide you through every step to buying a home.

Define What you Want

Start by creating a prioritized list of features you want in your next home and the reasons why. Use it as your search guide, but remember that you will probably need to make some compromises depending on your funding. In addition, talk to your Rockford real estate professional about where you want to live. Location is a huge part of any move. rockfordrealestate.com Representative, Barb Erdmier is trained to help her clients narrow down their choices by sharing market trends and local information like neighborhood and community information.

Figure out what can you afford

Now that you know what you want, it's time to see what you can afford. You can start by crunching the numbers yourself using our selection of calculators. When you're ready to move to the next step, you can get pre-approved for a mortgage. This process is made easier with rockfordrealestate.com Agent, Barb Erdmier, & can often be performed in under an hour. It accomplishes two important goals. First, it will tell you how much house you can afford and what your monthly payments would be. Second, it tells the seller that you can afford to buy their home. By definition, a pre-approved buyer has an approved mortgage subject to an appraisal of the property. Many times a buyer can use this pre-approved status as leverage during the negotiation process.

Shopping for Homes

Once you know what community you'd like to live in and have an idea of how much house you can afford, it's time to look at actual homes for sale. Beginning this search online can help save you time by targeting homes that meet your search criteria. Barb can help you with this process by eliminating some of the homes for sale that do not meet your criteria. Next, begin visiting homes in person. Ask Barb, your local rockfordrealestate.com professional, to arrange visits and attend open houses that are in your target area and price range. When comparing homes, make sure to look at all aspects of the property. Is the property tax approximately the same? Are both the houses renovated? Do they both have the same amount of bedrooms and bathrooms? Where are the homes located? Does either house have any real problems?

Make an Offer

Once you find the home you want, you need to make an offer for the house. Typically this is a very difficult and trying time since both parties have totally different goals. This process is made easier with a real estate agent, Barb Erdmier with rockfordrealestate.com can aid with negotiating the offer. If you have any personal interaction with the homeowner, don't give out any information about your move, your current housing status, financial status or your feelings about their property - positive or negative. This could hurt you in future negotiations.

This might also be a good time to consider purchasing a home protection plan. These insurance policies can be purchased by the buyer or seller and help protect against unexpected costs or home repairs during the listing period or in the initial years after a home has been purchased.

Inspection & Service

After your offer is accepted you will need to set up, coordinate and interpret various inspections, including insect, radon, building quality, oil tank, title, etc. You will also need to arrange for homeowners insurance and finalize the mortgage. This is a major step in the buying process and there are many potential problems that can be discovered during this period. These include a leaky roof, radon gas, termite damage, a foundation problem, and wall cracks, to name a few. These problems happen all the time. The difference between closing on your dream home and starting the process all over again is what occurs during the negotiations between you and the seller. Your rockfordrealestate.com agent, Barb Erdmier, can help make these discussions go more smoothly. In most states you will also have the option of a "walk through" before the closing. This is your last chance to make sure that all of the items that you have agreed upon were completed to your satisfaction.

Final Closing

Before you arrive at the closing, make sure all the necessary paper work and deposits have been completed. If the mortgage, title work, homeowners insurance and other items necessary under local and state laws are not completed and brought to the closing table, the closing may not happen on time. And, depending on what the contract says, this could result in further action including financial penalties and even the loss of your rights to the home. Once you close, the house is yours! But there might be a few things you want to do before you lay out the welcome mat. These include arranging for an alarm system, turning on the electricity, subscribing to the local paper, cleaning or replacing the carpet, arranging for lawn services, etc. This could also be a good time to make some needed renovations.

Please don't hesitate to contact Barb Erdmier if you have a question. Barb and rockfordrealestate.com can come up with a solution for you! Give Barb a call at (815)-222-8866.